Prof Bernard Lee talks about his latest title Consider these phenomena: Savers at surplus countries are often apenalizeda by astronomical consumer prices, while spenders at debtor countries enjoy bargain basement prices;Silicon Valley continues to be the global leader in RaD and innovation despite chaos in public finance; andSurplus countries worry about holding potentially worthless IOUs issued by elected debtor governments. In this book, Professor Lee has tried to better understand sovereign wealth management in the context of saver and debtor countries, by presenting a unified model that can explain these observed phenomena. His attempt is a clear departure from traditional theories, in which these observations would be considered aberrations from astandard assumptionsa. Although no model is perfect, this new framework can be useful to explain why, for example, it will be bad economic news for all if saver countries use their public surpluses to hoard food and fuel. This accessible book is built from a scholarly paper presented by Professor Lee at the venerable Annual Meeting of the American Economic Association. Contents:Overview:Are SWFs Potential Causes for Concern?Research on SWF InvestingImplications to Global ImbalancesShould there be Structural Solutions prior to Launching Rescue Attempts?Can Sovereign Wealth Funds Save the Global Economy?Potential Policy ImplicationsSummaryPast Realities:Brief History of Sovereign Wealth ManagementFactors Impacting Investing BehaviorRisk and Performance AnalysisSummaryEvolving Roles:IntroductionAbstract Model of Global EconomyPotential Outcomes of Policy InterventionsImplications to SWF InvestingSummaryFuture Directions:Evolving Global Financial LandscapeThinking AheadInvestment Policy ImplicationsSummaryConclusions Readership: Students, researchers and professionals interested in international finance, investments or money and banking. Keywords:Sovereign Wealth Fund;Central Bank Reserves;Global Imbalance;Financial Crisis;Market Constraints for Mega-Sized InvestorsKey Features:Discussion is set in the context of practical not hypothetical investment considerationsFocuses on the past, present and future of sovereign wealth managementAnalyses were developed by partnering with real-life investors and allocatorsReviews: aStudents, researchers and professionals interested in international finance, investments or money and banking will find this highly useful.a Credit ControlOther liquid financial assets such as household cash and cash equivalents can be captured by global money supply index M2. ... That was roughly what we saw during the global financial crisis of 2008 and other earlier financial crises. ... other than those of the central government, and the time, savings, and foreign currency deposits of resident sectors other than the central government. This definitionanbsp;...
|Title||:||Evolving Roles of Sovereign Wealth Managers After the Financial Crisis|
|Publisher||:||World Scientific - 2013-11-26|